Price for Butter and Other Fats and Oils Derived from Milk in the Netherlands - 2023
Contents:
- Price for Butter and Other Fats and Oils Derived from Milk in the Netherlands (FOB) - 2023
- Price for Butter and Other Fats and Oils Derived from Milk in the Netherlands (CIF) - 2023
- Exports of Butter and Other Fats and Oils Derived from Milk in the Netherlands
- Imports of Butter and Other Fats and Oils Derived from Milk in the Netherlands
Price for Butter and Other Fats and Oils Derived from Milk in the Netherlands (FOB) - 2023
In November 2023, the average export price for butter and other fats and oils derived from milk amounted to $5,755 per ton, increasing by 2.2% against the previous month. Over the period under review, the export price, however, continues to indicate a slight downturn. Over the period under review, the average export prices reached the maximum at $7,084 per ton in December 2022; however, from January 2023 to November 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In November 2023, the country with the highest price was Yemen ($15,528 per ton), while the average price for exports to China ($5,045 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Butter and Other Fats and Oils Derived from Milk in the Netherlands (CIF) - 2023
In November 2023, the average import price for butter and other fats and oils derived from milk amounted to $5,276 per ton, picking up by 2.9% against the previous month. Over the period under review, the import price, however, showed a slight downturn. The pace of growth was the most pronounced in September 2023 when the average import price increased by 11% month-to-month. The import price peaked at $5,936 per ton in November 2022; however, from December 2022 to November 2023, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In November 2023, the country with the highest price was the UK ($7,557 per ton), while the price for Norway ($5,391 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by the UK (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Butter and Other Fats and Oils Derived from Milk in the Netherlands
After three years of growth, overseas shipments of butter and other fats and oils derived from milk decreased by -4.6% to 326K tons in 2022. The total export volume increased at an average annual rate of +1.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 6.8%. As a result, the exports reached the peak of 342K tons, and then declined in the following year.
In value terms, exports of butter and other fats and oils derived from milk soared to $2.2B in 2022. In general, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.6% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Butter and Other Fats and Oils Derived from Milk in the Netherlands (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 456 | 435 | 549 | 710 | 15.9% |
| France | 350 | 295 | 361 | 506 | 13.1% |
| Belgium | 201 | 180 | 222 | 276 | 11.1% |
| Italy | 78.8 | 57.6 | 78.7 | 125 | 16.6% |
| Spain | 17.9 | 16.2 | 26.7 | 59.2 | 49.0% |
| United States | 9.7 | 30.5 | 64.1 | 57.7 | 81.2% |
| Poland | 47.4 | 38.8 | 52.1 | 45.8 | -1.1% |
| United Kingdom | 74.9 | 47.2 | 12.6 | 20.6 | -35.0% |
| Others | 287 | 259 | 286 | 354 | 7.2% |
| Total | 1,522 | 1,359 | 1,653 | 2,155 | 12.3% |
Top Export Markets for Butter and Other Fats and Oils Derived from Milk from the Netherlands in 2022:
- Germany (115.5K tons)
- France (76.3K tons)
- Belgium (42.6K tons)
- Italy (18.7K tons)
- Spain (9.4K tons)
- Poland (6.3K tons)
- United States (6.1K tons)
- United Kingdom (2.6K tons)
Imports of Butter and Other Fats and Oils Derived from Milk in the Netherlands
In 2022, after three years of growth, there was significant decline in supplies from abroad of butter and other fats and oils derived from milk, when their volume decreased by -9.3% to 165K tons. The total import volume increased at an average annual rate of +1.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 15% against the previous year. As a result, imports attained the peak of 182K tons, and then shrank in the following year.
In value terms, imports of butter and other fats and oils derived from milk skyrocketed to $919M in 2022. Overall, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.7% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 28%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.
| Import of Butter and Other Fats and Oils Derived from Milk in the Netherlands (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 173 | 160 | 181 | 283 | 17.8% |
| Ireland | 229 | 201 | 295 | 186 | -6.7% |
| Belgium | 103 | 93.5 | 112 | 115 | 3.7% |
| United Kingdom | 32.5 | 31.1 | 49.6 | 94.4 | 42.7% |
| France | 36.9 | 38.0 | 39.8 | 53.6 | 13.3% |
| Poland | 24.8 | 19.9 | 16.1 | 45.1 | 22.1% |
| Denmark | 31.6 | 17.2 | 28.0 | 44.6 | 12.2% |
| Others | 58.6 | 44.9 | 55.0 | 97.9 | 18.7% |
| Total | 689 | 606 | 777 | 919 | 10.1% |
Top Suppliers of Butter and Other Fats and Oils Derived from Milk to the Netherlands in 2022:
- Germany (60.7K tons)
- Ireland (29.0K tons)
- Belgium (20.1K tons)
- United Kingdom (14.3K tons)
- France (8.9K tons)
- Denmark (8.3K tons)
- Poland (7.2K tons)
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Butter and ghee exports reached a value of $173 million in June 2023.
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In March 2023, the ghee price amounted to $7,170 per ton (FOB, Netherlands), falling by -3% against the previous month.
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In March 2023, the growth rate soared to its peak with a staggering 441% increase in month-to-month exports. However, the value of Dairy Spread exports dipped to $599K by September 2023.
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